2001 (5) TMI 304

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....per : Gowri Shankar, Member (T)]. - The appellant imported a set of moulds. It claimed partial exemption of the duty payable on the goods in terms of Notification 162/92. This Notification exempts from duty capital goods imported by a person who has undertaken to fulfil the export obligation to the extent specified in the Table to the notification. One of the conditions of the Notification is th....

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.... of the capital goods. The importer cleared the goods on payment of duty assessed. 3. The importer subsequently filed an additional bank guarantee with the licensing authority to the extent of the amount that was initially short and thereafter claimed refund of the duty paid. The claim was rejected by the Assistant Commissioner on the ground that the notification requires that the bond to be....

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....lained that the question of executing a bond would not arise, where duty itself is paid. Both of them held that, subsequently, when the bond is produced, the claim for reassessment, which was denied by the assessing authority on the ground that the benefit of exemption notification requiring, as does Notification 162/92, the execution of a bond at the time of clearance, had to be granted. 6.&emsp....